Intel reveals stake in cryptocurrency platform CoinBase

Intel Corp. revealed in regulatory filings Friday that it holds a small stake in burgeoning cryptocurrency platform CoinBase.

The tech giant and chipmaker said in a 13F filing that it owns 3,014 shares of CoinBase’s Class A stock as of June 30. CoinBase went public through a direct listing in April.

Intel’s stake in the cryptocurrency exchange is worth roughly $790,000 based on CoinBase’s current share price. Coinbase’s stock has fallen roughly 20{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd} since its public trading debut.

CoinBase shares rose roughly 2{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd} in trading Friday. Intel shares were flat.

Intel and CoinBase representatives did not immediately respond to a request for comment.

Ticker Security Last Change Change {8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd}
INTC INTEL CORP. 53.49 -0.05 -0.09{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd}
COIN COINBASE GLOBAL, INC. 261.25 +4.75 +1.85{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd}


CoinBase is one of several prominent cryptocurrency trading exchanges that have experienced a surge in popularity as digital currencies gain traction among investors. The platform’s offerings include Bitcoin, Ethereum, Binance Coin and Dogecoin.

CoinBase has a market capitalization of roughly $54 billion. Earlier this week, the company reported second-quarter earnings and revenue that topped Wall Street’s expectations.

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